Blue Buffalo Pet Products, Inc. (BUFF) Shares Bought by State Street Corp

State Street Corp increased its stake in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 32.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,055,030 shares of the company’s stock after acquiring an additional 257,571 shares during the quarter. State Street Corp owned about 0.54% of Blue Buffalo Pet Products worth $24,064,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BUFF. Dana Investment Advisors Inc. grew its position in Blue Buffalo Pet Products by 4.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 90,058 shares of the company’s stock worth $2,054,000 after purchasing an additional 3,983 shares during the last quarter. Harris Associates L P purchased a new position in Blue Buffalo Pet Products during the 2nd quarter worth $53,476,000. Tudor Investment Corp ET AL grew its position in Blue Buffalo Pet Products by 275.3% during the 2nd quarter. Tudor Investment Corp ET AL now owns 33,642 shares of the company’s stock worth $767,000 after purchasing an additional 24,677 shares during the last quarter. PDT Partners LLC purchased a new position in Blue Buffalo Pet Products during the 2nd quarter worth $9,941,000. Finally, Numeric Investors LLC grew its position in Blue Buffalo Pet Products by 19.8% during the 2nd quarter. Numeric Investors LLC now owns 127,440 shares of the company’s stock worth $2,907,000 after purchasing an additional 21,040 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

In related news, CFO Michael Nathenson sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $25.00, for a total value of $1,250,000.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares in the company, valued at $1,250,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William W. Bishop, Jr. sold 21,200 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $28.58, for a total transaction of $605,896.00. Following the completion of the sale, the insider now owns 655,090 shares of the company’s stock, valued at approximately $18,722,472.20. The disclosure for this sale can be found here. Insiders sold 229,927 shares of company stock valued at $5,965,929 in the last quarter. Company insiders own 7.70% of the company’s stock.

Several brokerages have issued reports on BUFF. J P Morgan Chase & Co downgraded shares of Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, October 10th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $32.00 price objective (up from $25.00) on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 27th. Susquehanna Bancshares Inc set a $34.00 target price on shares of Blue Buffalo Pet Products and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $29.00 target price on shares of Blue Buffalo Pet Products in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $29.80.

Shares of Blue Buffalo Pet Products, Inc. (BUFF) opened at $28.34 on Wednesday. The firm has a market cap of $5,344.35, a PE ratio of 30.75, a PEG ratio of 2.00 and a beta of 1.94. The company has a quick ratio of 3.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.61. Blue Buffalo Pet Products, Inc. has a fifty-two week low of $21.51 and a fifty-two week high of $29.84.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The business had revenue of $340.85 million for the quarter, compared to the consensus estimate of $323.05 million. Blue Buffalo Pet Products had a net margin of 14.17% and a return on equity of 86.23%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. sell-side analysts expect that Blue Buffalo Pet Products, Inc. will post 0.91 EPS for the current year.

Blue Buffalo Pet Products announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 8th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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Blue Buffalo Pet Products Company Profile

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company operates as a pet food company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under product lines, including BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines.

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Institutional Ownership by Quarter for Blue Buffalo Pet Products (NASDAQ:BUFF)

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